Pay no attention to the people behind the curtain

Thursday, October 02, 2008

Senate Vote On Bail Out -- Live With It

One man with a briefcase can steal more money than a hundred men with guns.

Don Corleone in The Godfather

Now that the Senate has done what it had to do -- no matter how disgusting it is -- and pass the bailout plan, and it looks likely that the House will have to do something similar. What next?

That is the question. Do we follow the same philosophical fantasies that got us into this mess in the first place? And no, it was not the minorities that led to this crisis.

Or do we trash the nonsense that gave us a Hershey economic high, that is a big boost and then crashing let down?

It is clear the leadership we need from the McCain campaign. Is K-Street crowd that comprises his "StraightTalk Express" is mainly trying to get him elected so we can pick up where we left off.

Obama, on the other hand, has real economists on staff and not corporate enablers.

What we need going forward are real investment reforms that not only clean things up on Wall Street, but a commitment that these regulations will morph as those on the Street figure to climb over the rules.

Also tasty is the idea from Jim Cramer of Mad Money that we have "show trials." There were many who lied on their financial statements and that has to be punished.

Out of McCain we will continue to have the inane focus on that minutia known as pork barrel spending. As he says, when it comes to pork barrel spenders, thanks to him "you will know their names."